Blockchain Quiz

Google Drive is a cloud-based storage service that lets you store, access, and share files online. It offers seamless integration with Google Workspace apps like Docs, Sheets, and Slides.

Gwei is a smaller unit of ETH used to calculate gas costs.

Pools lock tokens for trading on platforms like Uniswap, replacing traditional order books.

Gas limits set a maximum amount of computation a transaction can use, preventing infinite loops or excessively long operations from running indefinitely. This protects the network and user funds by halting transactions that exceed the limit.

Hybrid mechanisms (e.g., Decred) blend PoW mining with PoS voting for balanced security.

Sybil attacks create fake nodes to disrupt consensus or censor transactions.

Fresh data prevents outdated inputs (e.g., stale prices) from breaking contracts.

DeFi protocols need real-world price data (e.g., ETH/USD) to execute core functions like determining loan collateral ratios, triggering liquidations, or enabling decentralized trades — all of which require oracles to securely fetch and verify external market prices.

Decentralized oracles (e.g., Chainlink) source data from many nodes for trust.

ERC-20 is a standard for creating interchangeable tokens like cryptocurrencies or rewards.

PoS processes transactions faster by skipping energy-intensive mining. Chains like Ethereum 2.0 use it.

Tokenomics refers to the economic design and structure of a cryptocurrency or token, including how it is created, distributed, and managed. It encompasses factors like total supply, allocation, inflation, utility, and incentives that influence the token's value and usage within a blockchain ecosystem.

MetaMask is a popular cryptocurrency wallet and browser extension that allows users to manage Ethereum-based assets and interact with decentralized applications (dApps). It securely stores private keys, enabling seamless transactions and access to Web3 platforms directly from the browser.

Solidity is Ethereum’s primary language for coding smart contracts.

PFP (Profile Picture) NFTs like Bored Apes are used as social media avatars.

A hash function is a algorithm that converts data into a fixed-size string (hash value), used for data integrity, security, or quick lookup.

Public blockchains are open networks where anyone can join, view transactions, and participate (e.g., transact, mine, or validate blocks) without needing approval.

Minting converts digital files (art, music) into blockchain-based NFTs.

Consensus rules (e.g., PoW/PoS) ensure all nodes agree on valid transactions.

The genesis block is the first block in a blockchain, initiating the chain.